Deutsche pivots away from investment bank with Sewing named CEO

Christian Sewing is not only from a different part of the German lender, he is reportedly a sceptic of the investment bank's worth

Christian Sewing
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By

Paul Clarke

April 9, 2018 4:21 a.m. GMT

Deutsche Bank has a new man in charge — its fourth chief executive in six years — and its investment bankers have fresh cause for concern.

After close to three years with cost-cutter John Cryan at the helm, under whom 9,000 jobs were earmarked for elimination, Deutsche has chosen Christian Sewing, co-head of its private and commercial bank, as its next CEO.